美洲食品：截至5月31日的NielsenIQ数据：食品销售总额稳健增长，大多数包装食品仍面临压力

Total food sales increased +2.8%/+3.2% y/y for R4/12-wks (in-line with the long-term trend of +LSD), driven by pricing and partially offset by lower volumes. However, we observed sales declines across most of our packaged food coverage, with HSY as the exception, noting support from pricing. Additionally, all companies within our coverage lost share in their top category. Department & Category Detail Department: Across total food, sales increased +2.8% y/y in the latest R4-wks, led by private label across most categories. Total food EQ units decreased -0.5% y/y, noting branded products (-0.5%) outperformed private label (-0.7%). Leah Jordan, CFA +1(713)658-2691 | leah.jordan@gs.com Goldman Sachs & Co. LLC Eli Thompson +1(713)904-8289 | eli.thompson@gs.com Goldman Sachs & Co. LLCAmericas Food: NielsenIQ data thru 5/31: Solid total food sales growth, with continued pressure across most of packaged food10 June 2025 | 1:10PM CDT Goldman Sachs does and seeks to do business with companies